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Diana Shipping announces time charter contract with Olam
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Olam International Limited, Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore.
The gross charter rate is US$56,000 per day, minus a 4.75% commission paid to third parties, for a time charter trip duration of about ninety (90) days. The charter commenced retroactively as of September 28, 2021.
The m/v Baltimore was chartered, as previously announced, to Koch Shipping Pte. Ltd., Singapore, at a gross charter rate of US$13,000 per day, minus a 5% commission paid to third parties.
The “Baltimore” is a 177,243 dwt Capesize dry bulk vessel built in 2005.
The employment of “Baltimore” is anticipated to generate approximately US$5.04 million of gross revenue for the minimum scheduled period of the time charter.